Richard F. Bunch III - Jul 19, 2021 Form 4 Insider Report for TWFG, Inc. (TWFG)

Role
President and CEO, Director, 10%+ Owner
Signature
/s/ Julie E. Benes, as Attorney-in-Fact for Richard F. Bunch
Stock symbol
TWFG
Transactions as of
Jul 19, 2021
Transactions value $
$3,450,592
Form type
4
Date filed
7/19/2024, 09:42 PM
Next filing
Jul 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWFG Class A Common Stock Award $0 +147K +147058% $0.00 147K Jul 17, 2025 Direct
transaction TWFG Class A Common Stock Award $0 +3.53K +2.4% $0.00 151K Jul 17, 2024 By wife
transaction TWFG Class A Common Stock Options Exercise +342K +227.13% 493K Jul 19, 2024 By LLC F1, F2
transaction TWFG Class A Common Stock Purchase $3.15M +185K +37.62% $17.00 678K Jul 19, 2024 Direct F3
transaction TWFG Class A Common Stock Purchase $99.5K +5.85K +0.86% $17.00 684K Jul 19, 2024 By wife F3
transaction TWFG Class A Common Stock Purchase $99.5K +5.85K +0.85% $17.00 690K Jul 19, 2024 By son F3
transaction TWFG Class A Common Stock Purchase $99.5K +5.85K +0.85% $17.00 696K Jul 19, 2024 By son F3
transaction TWFG Class C Common Stock Award +33.9M 33.9M Jul 19, 2024 By LLC F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TWFG LLC Units in TWFG Holding Company, LLC Options Exercise +342K +1.02% 33.9M Jul 19, 2021 Class A Common Stock 342K By LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the "reorganization transactions" (as defined in the Issuer's Registration Statement on Form S-1, as amended (File No. 333-280439)), as part of the Issuer's initial public offering, (i) the Class C LLC Units of TWFG Holding Company, LLC ("TWFG Holding") held by Bunch Family Holdings LLC ("Bunch Holdings") were reclassified as LLC Units of TWFG Holding, (ii) Bunch Holdings exchanged 342,362 LLC Units of TWFG Holding for 342,362 shares of Class A Common Stock of the Issuer, and (iii) Bunch Holdings continued to hold 33,893,810 LLC Units of TWFG Holdings and was issued a corresponding number of shares of Class C Common Stock of the Issuer. Each LLC Unit of TWFG Holdings held by the Reporting Persons is exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis, and upon such exchange, an equivalent number of shares of Class C Common Stock of the Issuer held by the Reporting Persons will be canceled.
F2 The shares of Class A common Stock of the Issuer and the Class C LLC Units of TWFG Holding Company, LLC ("TWFG Holding") are owned directly by Bunch Family Holdings LLC ("Bunch Holdings"), a ten percent owner of the Issuer, and indirectly by Richard F. Bunch III, who is sole member of Bunch Holdings. Richard F. Bunch III is a director, officer and ten percent owner of the Issuer.
F3 Represents shares acquired pursuant to a directed share program in connection with the Issuer's initial public offering.